Investing in Small Storage Facilities [Pros and Cons]
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- Опубліковано 21 гру 2020
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We just did a video on investing in self storage in small MARKETS, now it's time to talk about investing in small storage facilities themselves.
As with anything, there are pros and there are cons. Understanding and planning for each is key to your self storage investment success. I wanted to go over both the pros and cons of investing in small storage facilities to help you identify those aspects to help ensure you're investing in the best possible storage asset you can. This also goes into and plays a role in what your long term investment strategy is. Do you plan on owning a ton of small facilities? Do you want to stay away from small facilities and focus on only large facilities?
Maybe you don't even know. Regardless, after you watch this video you'll have some insights into the pros and cons of owning and operating small storage facilities. Who knows, you might even change your investment strategy or come up with an even better investment strategy.
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What are your thoughts on converting an existing large garage into a 5-6 doors self-storage unit?
I think many of us appreciate people like you willing to put out information for beginners.
I don’t have investors or inheritances.
To by pass the initial cost
I started a lawncare company to create cash needed for my real estate ventures,
In the next 1-2 years the lawncare business should with no hiccup’s give us 50k-100k cash
That we can then re-invest in our storage facility to create wealth.
So awesome Darwin! Thanks a ton for the comment and the support. Love hearing that you're building all this out and making moves. Thanks again!
We are looking at a conversion project and would love to start a dialog about our project. Property management has been mentioned on your channel and we would love to discuss the possibilities. Keep up the great job in the meantime
Thanks
Awesome! You can get in touch with me and my team at selfstorageincome.com
What gate do you use for keyless entry
Hey quick question, do you know how i can go about finding out more details regarding downpayment and what type of loans i can get for self storage facilities ? side note i'm only 26 and only have around 50-70k cash
Does Live Oak Bank loan you the $ when you purchase & include the improvements cost In the loan or do you have to get the loan later if this is your first purchase
Great question - we generally always build in the cost of improvements into the loan. Thanks watching Cindy!
Do small facilities typically sell at a different cap rate than med sized facilities because of the cons described and less competition?
Generally yes. This is also dependent on other factors as well such as what market that facility is located in. One of the biggest things to keep in mind when looking at smaller facilities is the expense ratio. Thanks for the question and for tuning in Ben!
I am a first year electrician with little to no knowledge about this business. I am finding this info very helpful. Is there someone I can talk to about either a mentorship or just learning more
I'm glad you're finding this stuff helpful (it sure takes a ton of time to make lol). I don't do mentorships and I'd be very cautious and thoroughly vet any potential mentors you come across. You're doing the right thing, you're watching these videos, learning, etc. Learn all you can from all the reputable sources you can and take action. Thanks for watching Mason!
How do we find the key person for our team?
Talk to people, meet people, talk about what you're doing and have a clear vision for the future and you'll have no problem finding the right people to bring on your team or to surround yourself with. Thanks again Jerry!